Back when I thought cash buyers were just scammers

I remember about 8 years ago when I first started flipping houses in Columbus, Ohio. I figured anyone offering cash had to be some kind of shady investor trying to lowball me. Then I met this older guy named Frank who bought a duplex from me in 3 days flat, no inspections, no contingencies. He paid $147,000 cash and I was out of the deal before my agent even finished the paperwork. That deal made me realize not all cash buyers are vultures, some are just retired folks who don't want to mess with banks or waiting. Now I deal with cash buyers all the time and I actually prefer them over financed offers. Has anyone else had a cash buyer surprise them like that?

2 comments

2 Comments

gonzalez.grant2d ago

Did my first cash deal ever end up being a complete disaster?

morgan9152d ago

My uncle did a cash deal on a foreclosed house back in 2018 and it ended up costing him $12,000 in hidden fees because the title had a lien he didn't catch. @gonzalez.grant you really gotta run a title search before handing over any envelopes full of bills. That whole process can be a NIGHTMARE if you skip the paperwork.